KATHMANDU: The United States has rejected Iran’s proposal to reopen the Strait of Hormuz, U.S. Ambassador to the United Nations Mike Waltz has said.

He said the proposal was rejected because Iran had sought to lift sanctions and give it access to billions of dollars worth of frozen assets before continuing talks on its nuclear program.

On CNN’s “State of the Union” and NBC’s “Meet the Press” program, Waltz said Iran’s proposal to open the Strait of Hormuz for seven days was linked to the demand for access to frozen assets and the lifting of sanctions. He said the U.S. would eventually have to make a deal with Iran, but President Donald Trump kept all options open.

Waltz said that the sanctions on Iran are not only American but global, and that the UN Security Council has passed seven resolutions on Iran’s nuclear program in the last 20 years. He said that the International Atomic Energy Agency has also sent to the Security Council the issue of not giving necessary access to monitor nuclear activities.

Iranian Foreign Minister Seyyed Abbas Araghchi said Waltz did not accurately detail the proposal to open the Strait of Hormuz.

He said the US rejection of the proposal had not been communicated through formal diplomatic channels.

Meanwhile, President Trump expressed confidence that the conflict with Iran would end soon and said that global oil prices would fall after that. He reiterated that the main issue of US policy is to prevent Iran from having nuclear weapons. He also ruled out the possibility of further military action before the upcoming midterm elections.

Araghchi said Iran was ready for a diplomatic solution and that his country was ready to face further attacks. He said that Iran would prioritize its national interests over the US midterm elections.

He reiterated his willingness to reopen the Strait of Hormuz, demanding that Iran release its frozen assets and be allowed to sell its oil. According to him, these issues were related to the agreement on a temporary ceasefire signed in June but could not be implemented due to the mutual aggression that followed.

Araghchi said he was willing to continue efforts to find a diplomatic solution.